Weakness's;

- No Financials due to recently started company 3 months prior to application.

- Renter (No property backing)
Strength's;

- Good amount of working capital > $50K

Funding Solution;

- 100% Funded (No Deposit), client was able to keep all his cash in his account to run his business.

- Rent to own

- 5 Year Term with No Balloon Payment and annual options to payout for agreed amount at each anniversary.

- Low Doc. We used 3 months bank statements as proof of income.

Detailed Background on the deal;

Client has been a concretor all his working life – 20+ years. He recently became self employed. 

His major customer had a lot of concreting work available. However, his Ford Falcon Ute (with Box Trailer) was struggling to keep up with the pace of the business, and it had limited ability to carry all the tools/equipment. He needed a stronger truck that he could use under his Car Licence. 

They weren’t eligible with a major lender because the company was only open for 3 months, there were no accountant financials - in fact there was no BAS completed as yet. Furthermore, the client or company had no Auto Loan credit history, and he was unable to obtain a work letter from his client. 

Victor at The Finance Group was able to lodge an application with a Lender who had a low-doc product for startup business. 

They accepted Bank Statements along with the sub-contract agreement for the project he was currently working on. Victor was also able to research that major customer, and found they were a large apartment construction firm, and discovered their future projects, which ensured our client will have steady work going forward. As a result, the loan was Settled within the timeframe, and our client minimised his time without a truck.

The Non-bank funders that we use, consider the Strength's and Weakness's of each deal and if the clients plans make sense overall , they will approve the deal.

Engaging The Finance Group Parramatta as your preferred Truck Finance Broker, we will present your situation and clearly explain any mitigating circumstances to justify negative aspects about your financial situation and emphasize the positive points about your situation and how you plan to ensure you new business or business growth will be a success.

We have over 20 Lenders on our lending Panel and many of the non-bank lender's give people a second chance.

No matter if you have a good or bad history, we are here to provide assistance as your reliable Truck Finance Broker, please call one of our Team on 1800885626 or 180088LOAN 7 Days per week and we will aim to take your call 24 hours per day.  Australia wide.

Alternatively, you can complete the form below and tell us a bit about your goals and requirements.

~ Some very large transport companies won't provide contracts or work letters until the Driver has the truck available for work.   Having a wide selection of lenders enables us to use the right lender, based on each clients circumstances and who they are getting work from.